Swych Launches Blockchain-Based Marketplace

Digital gifting platform Swych has launched a blockchain-based marketplace that features instant settlements and streamlined performance. The platform enables individuals and businesses to send “swychable” gifts, redeemable at popular brands such as Nike and Kohl’s. As the name suggests, any gift can be “swyched” to another retailer, according to receiver preference.

The blockchain has been built on the Stellar Network, and users will be able to use the service without needing additional technical knowledge, since the blockchain aspects will operate in the background.

Swych has emphasized on the flexibility offered through the Stellar Network, as purchases can now be made redeemable for participating international stores as well.